On average, listings lease in the $50's per square foot per year. The Ballston - Virginia Square submarket is experiencing a a rise in rates. In the last 3 months, the median rate rose $22 per sqft per year. That's a 61% increase in rent.
Compared to the rest of the Washington D.C. market, the Ballston - Virginia Square submarket has more expensive rates, and you'll need to pay a premium to be in this hot region.
In the last 90 days, 4 listings have been posted online, which means new availabilities are probably going fast. You'll want to be prepared to make an offer immediately. About 250% of the office spaces in the Ballston - Virginia Square are subleases, so you might be able to find a shorter term or below market rent. There aren't many listings below 2,000 square feet on the market, so finding a space for a small business might be tough.
Even though the median size is 24,150 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this region are approximately 10 stories. Most buildings in this market were built in 1995 and are Class A.
Not much of the real estate is used for commercial space, so it might be hard to find office space. Education is the dominant industry in this market. Commute by bike is the most popular way to get to work amongst Ballston - Virginia Square occupants. Commuting around 20 minutes a day is the norm for those who opt to reside in this part of town.